Price is near the top of the ascending channel. Watch for short positions to join the big move down.
Price has reached the top trend line and has given us a good reaction. Wait for price to form a correction pattern before entering short.
Here on USDCAD price is currently rising. I am expecting a break up to continue the trend. Once price has reached the top of our bigger pattern I will look to take shorts.
Here we are close to the bottom of the pattern, if price does not break the bottom look to take long positions.
Here we have a reversal pattern forming near the top of the ascending channel. Look for short positions when price reaches the top.
Watch the bottom of the pattern for a longer term buy.
Here I am waiting for the corrective pattern to fully form to look for a long trade to the top of the bigger pattern. Divergence on the MACD suggests reversal is coming soon to the downside.
Here I am watching for long positions at the bottom of the pattern.
well see that move trade with rich be smart
Keep an eye out for a break with an impulsive behavior towards the downside. This could be a longer term trade to hold until the bottom.
Look for a quick short at the top of the descending channel.
There is a possible flat channel forming here on EURGBP. To be sure, watch the bottom of the channel for a valid bounce before placing any trades.
Price action is forming a flag (trend continuation patter on the 240 HR time frame. Looking for entry on the 1 hr or 15 min time frame.
Looking to see if we get more bearish price action before really moving in on this trade. If we do then awesome! If we don't and the market pushes up let's reconsider selling it at the blue structure area (strong structure area). Other than that I'm BEARISH on this move. Let's get ready to ride this wave down!!! FXT :)
Base on Elliott's guideline of equality where if wave 3 is the longest, wave 1 and wave 5 should be equal, the DJI shouldn't go higher than 21785. Based on this we should be very close to a correction. A wave analysis of the S&P500 shows it is too close to a correction based on the same guidelines. S&P500 idea linked below.